Sat. Apr 20th, 2019

Potatoes, electricity, clothing and gasoline trigger prices

Potatoes, electricity, clothing and gasoline trigger prices

The rise in the price of fuel and energy, potatoes and clothing has risen by 0.4% in the Consumer Price Index (CPI) in March compared to the previous month and raised its interannual rate two tenths, its second consecutive rise after February. In addition, it reached its highest level since last November and added five consecutive months with interannual rates of less than 2%, which implies that today prices are 1.3% higher than those of a year ago, according to the data provided by the National Institute of Statistics (INE).

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This upturn is mainly due to the rise in gasoline prices, the upward trend in the price of electricity and the rise in the prices of clothing and transport. Specifically, the groups that contributed to the acceleration of the interannual rate of the CPI are transportation, which increased its annual rate by more than one point, to 3%; fuel and housing, also increased more than one point, to 2.1%; clothing and footwear (+ 4.4%) for the start of the spring-summer season; transport (+ 1.1%) for gasoline, but above all the great increase of a basic good such as the price of potatoes, what shot up 14%. They had milder increases, hotels (+ 0.6%) for accommodation and catering services, leisure and culture (+ 0.3%) for tour packages for the Easter campaign.

On the other hand, the greatest monthly decreases were recorded in fresh vegetables (-4.5%), fresh fruits (-1.9%) and heating, lighting and water distribution (-1.7%).

Core inflation -which does not include the prices of energy products or unprocessed food- remained at 0.7% in March, which is six tenths below that of the general CPI. The annual rate increased in March in all the autonomous communities. The greatest increases, of four tenths, were recorded in the Balearic Islands, Castilla-La Mancha and Galicia, and the minor ones, one tenth, in the Canary Islands, Navarra and Madrid.


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